Government announcements are taking place daily. NEW FEDERAL GOVERNMENT ANNOUNCEMENTS TO TAKE PLACE THIS WEEK – details and applications are forthcoming. The Surrey Board of Trade is providing you with updates in one place for your convenience. For any specific questions, please email anita@businessinsurrey. com. See below for updates.

NEW TODAY: Recently revised wage subsidy will be applied to both large and small businesses PLUS non-profits and charities. The Federal Government is changing course on its 75% wage subsidy, revealing businesses both large and small will be eligible for the program if their revenue has declined 30% or more. Ottawa will now cover up to 75% on the first $58,700 an employee earns regardless of the size of the company he or she works for, Prime Minister Justin Trudeau said Monday (March 30) during his daily media briefing outside his home in Ottawa. That means the maximum amount of a subsidy would translate to $847 per week, unless an employer tops up any salary exceeding $58,700 from the business’s own funds. “I want to offer a word of caution to businesses: we are trusting you to do the right thing. If you have the means to pay the remaining 25% that’s not covered by the subsidy, please do so. And if you think this is a system you can take advantage of or game — don’t,” he said. Government is still developing background documents explaining the technical details of the program.

What is the BC-Temporary Rental Supplement (BC-TRS) Program?
To support people and prevent the spread of COVID-19, the Province is introducing a new temporary rental supplement, halting evictions for non-payment of rent, and freezing rent increases. The new BC Temporary Rental Supplement, or BC-TRS, will be administered by BC Housing. This new program will provide a temporary rental supplement to assist eligible low- and moderate-income renters who are struggling to pay their rent as a result of income loss or income reduction due to COVID-19. Eligible tenants will have the benefit paid directly to their landlord, benefiting both the landlord and the tenant. At this time, this is a three-month program.

Who is eligible?
To be eligible, tenants must have experienced an income loss or reduction as a result of the current COVID-19 pandemic. Benefiting people with low to moderate incomes, this supplement will be available to renters who are facing financial hardship as a result of the COVID-19 crisis, but do not qualify for existing rental assistance programs. Full eligibility criteria will be available on BC Housing’s website soon.

Do I need to pay my rent for April?
Yes, you should pay your rent for April. The rental supplement program will be accepting applications in mid-April.

2. PREMIER AND FINANCE MINISTER BC ECONOMIC RECOVERY TASK FORCE: Surrey Board of Trade is a part of this task force, having a direct connection to BC Government to help you and also are looking at post-pandemic economic recovery.

3. CITY OF SURREY: Surrey Board of Trade is part of a weekly call with City of Surrey Pandemic Team – any feedback would be appreciated on what is happening on the ground.

4. MEDICAL SUPPLIES OR REPURPOSING SPACE FOR HEALTH CARE NEEDS: If your business can help with this, contact anita@businessinsurrey.com.

6. SURREY COMMUNITY RELIEF FUND: https://www.surreycares. org/surrey-community-relief- fund
The Surrey Board of Trade recognizes that it is imperative that we do all that we can during this critical time to support Surrey organizations delivering services to the most vulnerable in our community. We all understand that the extraordinary measures put in place to fight this pandemic are putting increased demands on many of our social support agencies. This fund will help them to not only meet those demands but to do so in as safe a manner as possible.

7. SUPPORT SURREY LOCAL BUSINESS CAMPAIGN: Over the past two weeks, the Surrey Board of Trade immediately implemented a series of social media campaigns to support Surrey businesses. Please watch for them and participate in them on Twitter, Facebook, Linkedin , and Instagram.

OTHER:
BUSINESS IN VANCOUVER NEWSPAPER: We want to ensure that Business in Vancouver subscribers receive their copies weekly. To that end, please tell us how to redirect any personally addressed copies coming to your business so that we can deliver it to your home during this period. Send them a note at subscribe@biv.com to give them the address or sign in to your online account online to do so. In the meantime, they are opening up access to the digital replica of their print edition at biv.com. You’ll notice the “READ THIS WEEK’S PRINT EDITION” prompt on their site.

EMPLOYEE & OWNER BENEFIT SUPPORT: Short Term Disability Coverage, instead of EI, is available through the Chamber of Commerce Group Benefit Plan. If you have EI coverage for your employees but the business owner does not have EI, you can opt to only get short-term disability for the business owner, as there is some coverage for sickness benefits through EI. However, for many industries, if you also obtain short-term coverage for your employees you may be able to get a reduction in the EI premiums that you pay on behalf of your employees. Compared to EI sickness benefits, short-term disability has some advantages. The maximum weekly payout amounts are higher than the EI maximums, plus in most cases the income received from short term disability insurance is tax free, where EI payouts are taxable income to the employees. As a member of the Surrey Board of Trade you have access to this plan. Contact S&F Benefits at 604-514-3347 or info@schmidtandfunk.com.